Yes I've done it, absolutely worth it... but not at 86%. Wait until it drops town to 70-something. Make sure it's a genuine Apple battery - a lot of cheaper batteries are total garbage.
I suspect you have a software problem. What apps are using all your power? Can you configure those apps to use less?
Or maybe you're just too heavy of a user for your phone. The iPhone 13 Mini battery is about 10% larger and the CPU also uses less power. And larger iPhones are even better again.
Perhaps you should upgrade? Or you could buy Magsafe battery pack (the Apple one is better than third party ones - better software integration causes the phone to use less power while it's connected to the battery, which allows the battery to be smaller/lighter for the same benefit).